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Equities are set to be the top-performing asset class in 2013, a survey of asset managers, pension funds and insurance companies suggests – but when it comes to their own money, these investors are sticking with fixed income.

The survey, a monthly snapshot from data provider Camradata, reports the views of 57 institutional investors who responded to its request in December. Most of the respondents were based in the UK, taking in "key decision-makers" at fund managers, pension schemes and Lloyd's of London-based insurers.

When asked what type of investment would do best this year, 32 of them picked an equity market – with most plumping for the emerging markets. Camradata also asked what kind of investment would attract the most money this year, and 30 of their respondents – again, over half – said equity funds.

The global stockmarket has indeed done well this year so far, with a 3.7% rise in the MSCI World since January 1.

But it's obviously not these respondents driving that rise. Camradata also asked an open-ended question of its investor respondents, asking them what investment opportunities they were considering in 2013.

Camradata cautioned that the survey was a brief, informal snapshot rather than a comprehensive scientific account of investors' desires. Nevertheless, the firm reported a "significant" bias towards fixed income, with recurring answers of high-yield debt and loans, emerging-market corporate bonds, and Euro-peripheral bonds.

Among these 57 "there was no reference to equities at all", Camradata observed. This is a striking finding, given widespread expectations of a recovery in stockmarkets this year. This month's fund manager survey from Bank of America Merrill Lynch, for example, found them at their most bullish in two years.

According to Steve Bulter, Camradata's managing director: "What the investors said, by and large, was either that they needed investments that provide income with a lower risk-profile than equities, or they said they wanted some kind of fixed-income asset.

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"This probably reflects their attitude to risk right now. The eurocrisis, the US fiscal cliff, low interest rates – all of these came through loud and clear as risk factors in the survey. They think equities will probably be the best-performing asset but can't take the risk of investing in it themselves."

Butler also said that when the respondents gave their outlook for 2013, there was an interesting discrepancy between insurers, pension funds and asset managers.

About 60% of the pension funds and asset managers said they were either "somewhat optimistic" or "neutral" on the prospects for financial markets during the year. But almost 70% of insurers said they were pessimistic.

Butler said regulation could be part of the explanation: "Insurers are being hit by a whole series of things; Solvency II has been hanging over them for a long time and that will affect what they can do with investments. Add to that the competitive pressure – premia and margins have been low for some time – and it is challenging for them."